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Jan 15, 2013
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the fitch rating agency raised a new warning, that a failure to raise the debt ceiling could lead to a downgrade. that could deal a major blow to the economy, maybe even send us into recession. >> we might not be able to pay our troops or pay the contractors, specialists who track down loose nuclear materials wouldn't get their paychecks. >> richard lui is here with the drill down. >> chris, assen december p 1st, the united states could not borrow any more money. it could pay its bills because of certainly accounting work-arounds, but those could stop working in 30 days, says the bipartisan mold center. at that point there's only enough incoming cash to pay 60% of its bills. therefore because of this proportion over here, some tough questions emerge. if social security recipients and veterans are paid, the department of education may not or troops could be left empty-handed. these scenarios scare credit agencies, as you were just mentioning, that determine how much of it costs to borrow money. at risk, the reputation of being the safist investment haven in the world, not to mention t
the fitch rating agency raised a new warning, that a failure to raise the debt ceiling could lead to a downgrade. that could deal a major blow to the economy, maybe even send us into recession. >> we might not be able to pay our troops or pay the contractors, specialists who track down loose nuclear materials wouldn't get their paychecks. >> richard lui is here with the drill down. >> chris, assen december p 1st, the united states could not borrow any more money. it could pay...
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Jan 21, 2013
01/13
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>> nervous about the debt ceiling and sequestration that hurtd g.d.p. and the fiscal deal. again, everyone wants deficit reduction. they do not want debt pour on. >> do you believe there is still an appetite to cut spending? this is a walkway that will connect the white house and the reviewing stand and the motorcade is going to the south side of the white house behind the white house, and the back of this building right now and they go to the white house to this walkway just to get to this reviewing stand. you are looking at there and seeing what, robert? it seems like more gamesmanship in both sides with a brief window. >> the economy is better, that is clear. housing is coming back. there is alignment between the business community and the priorities of the executive office. immigration reform. education. corporate tax reform. we need the other things we mentioned, the debt ceiling happened first. otherwise, this is going to be an uncertain year. >> why didn't you get picked if treasury? ing in against jack lew but they need guys like you. >> i am very flattered. fox sho
>> nervous about the debt ceiling and sequestration that hurtd g.d.p. and the fiscal deal. again, everyone wants deficit reduction. they do not want debt pour on. >> do you believe there is still an appetite to cut spending? this is a walkway that will connect the white house and the reviewing stand and the motorcade is going to the south side of the white house behind the white house, and the back of this building right now and they go to the white house to this walkway just to get...
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Jan 18, 2013
01/13
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FBC
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you will have the debt ceiling potential deal. liz: hence worries will cause volume at this time to go higher. >> sequester and continuing resolution. you have all this political risk. if you think about the last two, three years, liz, the bottom line, people outperformed, people that generated alpha, bought during periods of political fear. the people that added to the market, added to their exposure to the market during times of complacency typically underperformed. you want to save that powder for those political fear moments. david: save your cash until the debt ceiling thing collapses. maybe three months. want to focus on europe. spain and italy have $2.6 trillion worth of bonds outstanding. 2.6 trillion. they have got to borrow more, about 150 billion, in order to pay off old debts with old bonds. how will they do it. what happens if there is no buyers? >> look at spain. look at lehman. there is so many great comparisons because, --. david: that is not a good thing for spain. >> well, you look back to 2008. the fed bailed ou
you will have the debt ceiling potential deal. liz: hence worries will cause volume at this time to go higher. >> sequester and continuing resolution. you have all this political risk. if you think about the last two, three years, liz, the bottom line, people outperformed, people that generated alpha, bought during periods of political fear. the people that added to the market, added to their exposure to the market during times of complacency typically underperformed. you want to save...
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Jan 21, 2013
01/13
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FBC
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remember now john boehner and president obama had a deal the first time, the first time with a the debt ceiling 600 billion dollar number they came to and agreed to john boehner went over to the white house and ready to sign the deal and president obama said, no, make it 800, and moved the goal post and the mouse democrats say we'll punt this, kick the can down the road until april, the debt ceiling, let you raise the debt ceiling and violate the things we promised we wouldn't do to the people that elected us. in return, you guys, senate democrats come up with a budget and you haven't passed one in 1300 some days. chuck schumer says i'll make a deal and take you up on the offer guess what, in the new budget we're going to tax more, tax all you people to agreed to the deal that they just came to january 1st, that deal is done we'll keep that and give another, another bite of at that apple. stuart: this is a financial issue. it's a budget issue, so they need a straight up or down vote in the senate and the democrats have a majority in the senate, but i'll put it to you, a couple of democr
remember now john boehner and president obama had a deal the first time, the first time with a the debt ceiling 600 billion dollar number they came to and agreed to john boehner went over to the white house and ready to sign the deal and president obama said, no, make it 800, and moved the goal post and the mouse democrats say we'll punt this, kick the can down the road until april, the debt ceiling, let you raise the debt ceiling and violate the things we promised we wouldn't do to the people...
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Jan 21, 2013
01/13
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he seems to have been a force forex tending debt ceiling in order to gain some time to negotiate. i think all of that argues in favor of some time to get the right things done. >> chuck gabriel, how did you read or hear the president's passage where he talked about medicare and social security and he said the commitments we make to each other through medicare, medicaid, social security, these things do not zap our initiative, they strengthen it. they do not make us a nation of takers, they free us and make this country great. that felt to me like a bit of a stake in the ground by the president. >> yeah. you know, the president last week cast doubt on whether republicans believe in the principles and functions of social security and medicare, etc. so in some respects i think this is kind of a new, improved version of what president clinton did when he was facing a republican congress. he was talking about family values back in the '90s. he said i want a government that values families. and as the president said, we don't need to relitigate this today, but we need a government that
he seems to have been a force forex tending debt ceiling in order to gain some time to negotiate. i think all of that argues in favor of some time to get the right things done. >> chuck gabriel, how did you read or hear the president's passage where he talked about medicare and social security and he said the commitments we make to each other through medicare, medicaid, social security, these things do not zap our initiative, they strengthen it. they do not make us a nation of takers,...
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Jan 14, 2013
01/13
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ceiling, there's no deal. what kind of progress can we hope for here? our political panel debates that coming up in our next hour. now to another big debate playing out in washington over the obama administration's efforts to overhaul the nation's gun laws. we heard some of that this morning. here is the president addressing this issue during a white house news conference, we mentioned, moments ago. >> what you can count on is that the things that i've said in the past, the belief that we have to have stronger background checks, that we could do a much better job in terms of keeping these magazine clips with high capacity out of the hands of folks who shouldn't have them, an assault weapons ban that's meaningful that those are things i continue to believe make sense. >> megyn: new york senator chuck schumer is going a step further than the administration. now calling on wal-mart and other retailers to suspend sales of some types of weapons that are now perfectly legal until washington can come up with a new gu
ceiling, there's no deal. what kind of progress can we hope for here? our political panel debates that coming up in our next hour. now to another big debate playing out in washington over the obama administration's efforts to overhaul the nation's gun laws. we heard some of that this morning. here is the president addressing this issue during a white house news conference, we mentioned, moments ago. >> what you can count on is that the things that i've said in the past, the belief that we...
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Jan 20, 2013
01/13
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with the debt ceiling. and finally, we're told that the president will push to get the public engaged, engaged in their community, engaged in the issues to put pressure on congress to move the president's initiatives forward, john. this is seen as sort of the stage one or the act one, part two will be the president's state of the union address where he'll add more details to his proposals. >> you split it into acts there, dan, appropriate because we saw the president today, the swearing-in ceremony, but because this is a sunday, we saw him only briefly in the blue room. how has he been spending the rest of the day, and what are his plans for this evening? >> reporter: this evening within this hour, the president will be heading to the building museum for a candlelight reception there. he will be making remarks, but much of the day, you know, was quite busy earlier in the day, then had some down time. the president's still working on his speech. we're told that he's in the final stages. he did a lot of it on
with the debt ceiling. and finally, we're told that the president will push to get the public engaged, engaged in their community, engaged in the issues to put pressure on congress to move the president's initiatives forward, john. this is seen as sort of the stage one or the act one, part two will be the president's state of the union address where he'll add more details to his proposals. >> you split it into acts there, dan, appropriate because we saw the president today, the...
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Jan 17, 2013
01/13
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FBC
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there is the debt ceiling to have to deal with, there is government spending that expires in march and those automatic spending cuts, sequestration is supposed to hit the federal budget. and right now it appears a strategy that republicans are beginning to coalesce around, perhaps a short-term debt ceiling increase, pass that through the house with spending cuts, deal with the other elements of government spending and then set up a protracted argument or debate over the debt ceiling going forward. as republicans say, when it comes to their strategy, cutting spending is imperative. melissa: there's no celebration the fact we're a nation of $16 trillion in debt and you have someone in the white house that says to do the one thing that makes absolutely no sense whatsoever, and that is raise the debt ceiling with no change in the future? that is actually an absurd argument i don't think any householder in a state run well operates like that. >> house budget committee chairman spoke to reporters a short while ago saying this to work in the strategies on all this trying to identify the spend
there is the debt ceiling to have to deal with, there is government spending that expires in march and those automatic spending cuts, sequestration is supposed to hit the federal budget. and right now it appears a strategy that republicans are beginning to coalesce around, perhaps a short-term debt ceiling increase, pass that through the house with spending cuts, deal with the other elements of government spending and then set up a protracted argument or debate over the debt ceiling going...
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Jan 15, 2013
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i understand that you don't want to use the debt ceiling debate as -- as any leverage, you know. this is important. this is important for the u.s. as well as the world, so you don't want to use it as leverage, but why is it that it's always about taking off the gloves and fighting over it rather than coming up with real spending cut ideas? we still have not seen spending cut ideas to what we have, the 16.4 trillion or even, you know, projected spending, so where are the spending cut ideas, and when is that going to happen if you don't use some of these opportunities to actually get spending cuts on the table? >> well, the fortunate part is you follow this stuff, and if they would quit using the word cut. not cutting anything. can't believe when you say change the cost of living allowance to the changed cpi and save 108 billion in ten years or cutting, you know, balancing the budget on the backs of poor old seniors. when they wander up to the window in 2031 they are going to get a check for 25% less. what's smart about that? mean, let's just get real. they won't get real because t
i understand that you don't want to use the debt ceiling debate as -- as any leverage, you know. this is important. this is important for the u.s. as well as the world, so you don't want to use it as leverage, but why is it that it's always about taking off the gloves and fighting over it rather than coming up with real spending cut ideas? we still have not seen spending cut ideas to what we have, the 16.4 trillion or even, you know, projected spending, so where are the spending cut ideas, and...
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Jan 16, 2013
01/13
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kind on the debt ceiling. it's pushing them away and fitch says, watch out, here comes a downgrade. this is entirely possible with very serious consequences. >> sean: he could use the kids tomorrow as he announces executive orders as props. >> exploit them. >> sean: exploit them, i agree, that's the right term. interesting, is he going to say to them, by the way i'm the guy that's giving you 10 trillion dollars in debt? is he going to say i'm sorry i broke open your piggy bank, young children? i tend to doubt it. the guy won't deal with spending, stuart. >> no, he will not deal with spending, under any circumstances this president will not cut spending, he will not negotiate on that issue, he will not cut spending. his policy is exactly the same now as it has been for the last four years, which is tax the rich, do not cut spending, ignore the buildup in the debt. he now owns this economy. it is his, it's got his name written all over it. >> sean: he was blaming the republicans, they forced me he to sign these
kind on the debt ceiling. it's pushing them away and fitch says, watch out, here comes a downgrade. this is entirely possible with very serious consequences. >> sean: he could use the kids tomorrow as he announces executive orders as props. >> exploit them. >> sean: exploit them, i agree, that's the right term. interesting, is he going to say to them, by the way i'm the guy that's giving you 10 trillion dollars in debt? is he going to say i'm sorry i broke open your piggy...
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Jan 20, 2013
01/13
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with the debt ceiling as l. i spoke to one of the president's closest advisers who told me, point blank, the president has told him, he knows he has about a year to get the big things done. then he becomes a lame duck and then you have to start shifting more and more toward foreign policy, traveling around the world. on the domestic agend ahe has a very short time before he becomes a lame duck. >> the president's inaugural address tomorrow is a tradition that dates back to george washington in 1789. the president plans to look ahead more than back in the speech. let's get some insight from the wall street journal columnist. what are your thoughts on what the president needs to say in order to be most effective, to best set himself up, going into the next four years? >> reporter: well, i don't know. we will find out what he and his aides have decided about that, just about 24 hours from now. i think a second inaugural address is always a little bit difficult, you know? a first inaugural, everybody's new and excit
with the debt ceiling as l. i spoke to one of the president's closest advisers who told me, point blank, the president has told him, he knows he has about a year to get the big things done. then he becomes a lame duck and then you have to start shifting more and more toward foreign policy, traveling around the world. on the domestic agend ahe has a very short time before he becomes a lame duck. >> the president's inaugural address tomorrow is a tradition that dates back to george...
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Jan 21, 2013
01/13
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he closed the deal on the debt ceiling with mitch mcconnell. he was the spokesman for the gun initiative. these are high-profile roles that presidents don't have to give to vice presidents. this is how important joe biden has become in this administration. >> they clearly have an incredible relationship. gloria borger just spent some time with the vice president. gloria, if you can hear me, talk a little about what we're seeing right now. >> i think you're seeing vintage joe biden. this is the joe biden that those of us who have covered him for quite some time know pretty well. i mean, it's unvarnished. this is not his parade but he's kind of turning it into his parade. i think he knows, wolf, that this could be his last parade unless he does run again. he wouldn't commit to me one way or another. i think he's surely thinking about it. we were talking here about how fit joe biden is. for a man his age. when i was -- i interviewed him in the old executive office building on friday. look at him run. and that's how he walks down the hall at the ol
he closed the deal on the debt ceiling with mitch mcconnell. he was the spokesman for the gun initiative. these are high-profile roles that presidents don't have to give to vice presidents. this is how important joe biden has become in this administration. >> they clearly have an incredible relationship. gloria borger just spent some time with the vice president. gloria, if you can hear me, talk a little about what we're seeing right now. >> i think you're seeing vintage joe biden....
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Jan 15, 2013
01/13
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we'll show you his response and look at what that could mean for the gun debate, the debt ceiling and the rest. >> most people who know me know i'm a pretty friendly guy. and i like a good party. when you have diabetes... your doctor will say get smart about your weight. that's why there's glucerna hunger smart shakes. they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. [ male announcer ] glucerna hunger smart. a smart way to help manage hunger and diabetes. turn your world upside down with gillette fusion proglide because you can shave against the grain with comfort with our thinnest blades. our most comfortable shave or twice your money back. gillette, the best a man can get. but, dad, you've got... [ voice of dennis ] allstate. with accident forgiveness, they guarantee your rates won't go up just because of an accident. smart kid. [ voice of dennis ] indeed. are you in good hands? >> fox news alert. we're getting new warnings about the u.s. credit rating as the debate intensifies over the raising the country's debt ceiling. our credit limit. fi
we'll show you his response and look at what that could mean for the gun debate, the debt ceiling and the rest. >> most people who know me know i'm a pretty friendly guy. and i like a good party. when you have diabetes... your doctor will say get smart about your weight. that's why there's glucerna hunger smart shakes. they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. [ male announcer ] glucerna hunger smart. a smart way to help manage hunger and...
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Jan 20, 2013
01/13
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on not slamming-- or raising the debt ceiling, just the tone, jay carney saying he's encouraged and the republicans trying to beat a deadline and things might be different. >> sure, i don't think anyone in this town is under any illusion, and magically the republicans and democrats are coming together and solve all of these big problems and singing kumbayah. but there are a host of things where they want to come together and find some common ground and the debt ceiling might be one of them, but the republicans have some caveats to that and want to make sure that the senate democrats pass a budget. something they haven't done in the last four years and put some heat on the democrats right there. even as both sides are talking about coming together on some of this, there's going to be an edge to it as well. let's not forget the president is still dealing with high unemployment. and wants to focus on gun control, immigration reform and get those done in the second term and still got things left over from the first term. stubbornly high unemployment said he's going to cut the budget def
on not slamming-- or raising the debt ceiling, just the tone, jay carney saying he's encouraged and the republicans trying to beat a deadline and things might be different. >> sure, i don't think anyone in this town is under any illusion, and magically the republicans and democrats are coming together and solve all of these big problems and singing kumbayah. but there are a host of things where they want to come together and find some common ground and the debt ceiling might be one of...
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Jan 21, 2013
01/13
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ceiling. >> so i want to be clear about this, the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending, it simply allows the country to pay for spending that congress has already committed to. >> mike: well, according to the congressional record, in 2006, then senator barack obama had this statement just before a debt ceiling vote and i quote, the fact that we are here today to debate raising america's debt limit is a sign of leadership failure, it's a sign that the u.s. government can't pay its own bills, it's a sign that we now depend on ongoing financial assistance from foreign countries to finance our government's reckless fiscal policies. leadership means that the buck stops here. instead, washington is shifting the burden of bad choices today on the backs of our children and grandchildren, therefore intend to oppose the effort to increase america's debt limit. in 2008, candidate obama blamed president bush and called the growing debt unpatriotic. >> number 43 added 4 trillion dollars by his lonesome so that we no
ceiling. >> so i want to be clear about this, the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending, it simply allows the country to pay for spending that congress has already committed to. >> mike: well, according to the congressional record, in 2006, then senator barack obama had this statement just before a debt ceiling vote and i quote, the fact that we are here today to debate raising america's debt limit is a...
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Jan 15, 2013
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ceiling. remember, president bush was in office at the time, so senator obama would probably be against some of the things he was talking about, particularly the debt ceiling. the senator called it irresponsible to increase the debt. listen to then-senator obama. >> the problem is that the way bush has done it over the last eight years is to take out a credit card from the bank of china in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents. number 43 added $4 trillion by his lonesome so we now have over $9 trillion of debt that we are going to have to pay back, $30,000 for every man, woman and child. that's irresponsible. it's unpatriotic. >>steve: there you've got the president, back then senator, back in the day saying that president of ours, he's running up the bills, and it would be unpatriotic what he's doing. and we cannot raise the debt limit. forward to his administration, and i think this is going to be the fourth time he has asked cong
ceiling. remember, president bush was in office at the time, so senator obama would probably be against some of the things he was talking about, particularly the debt ceiling. the senator called it irresponsible to increase the debt. listen to then-senator obama. >> the problem is that the way bush has done it over the last eight years is to take out a credit card from the bank of china in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents....
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Jan 21, 2013
01/13
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we know we will deal with this year. debt ceiling, entitlement reform, et cetera, et cetera. right and left, republicans and democrats are diametrically opposed with their orthodoxy. democrats more moderate with republicans on certain things. republicans are more send activity that work with democrats. in the wake of the 2012 election as we look forward what is happening with the president's second term there are historical realities. the country is system of two parties and they compete hard. they compete hard for their agendas and it is not going to be an easy year. a second term is difficult one. the first year of four is really the best, some say only opportunity to pass legislation effectively. after the second year of a second term, on comes the midterm, 2014 will be a very, very important time which will determine by who is ted anated aho wi, what the republican and democratic presidential candidates look like in the back of president obama's second term and who his successor will be. something that has not happened in many years, not at all inconceivable. everyone rec
we know we will deal with this year. debt ceiling, entitlement reform, et cetera, et cetera. right and left, republicans and democrats are diametrically opposed with their orthodoxy. democrats more moderate with republicans on certain things. republicans are more send activity that work with democrats. in the wake of the 2012 election as we look forward what is happening with the president's second term there are historical realities. the country is system of two parties and they compete hard....
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Jan 20, 2013
01/13
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. >> i don't want to have that conversation in the context of the three-month debt ceiling deals. if we are going talk entitlements, is there room to push on the entitlements and suggest a larger social safety net, things like providing opportunities for poor children beginning to close the wealth gap is a priority. >> raise the health care law. i think it's very important to remember that law isn't fully operational, yet. there is -- yes, exactly. there's an enormous amount of work to do. there's a lot of resistance in the states. that's going to be a struggle. >> one piece of that is in 1997 we did a balanced budget deal. one thing that happened when that period of republicans and democrats came together was step back and as part of consolidating the budget, they shift resources. that was the deal. it was a deficit reduction deal. one thing it created was a children's health program. it's functioning today. it isn't the case of periods of deficit consolidation. it's not just cutting and grinding these things out. how to run a smarter government and run things into resources we n
. >> i don't want to have that conversation in the context of the three-month debt ceiling deals. if we are going talk entitlements, is there room to push on the entitlements and suggest a larger social safety net, things like providing opportunities for poor children beginning to close the wealth gap is a priority. >> raise the health care law. i think it's very important to remember that law isn't fully operational, yet. there is -- yes, exactly. there's an enormous amount of work...
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Jan 18, 2013
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>> what it might have been had there not be crisis after crisis dealing with the debt ceiling. >> you said last night, you've got to put on a yogi bear costume to make sense of it. >> returning a lot to shareholders. >> one wonders. >> $12 million they're talking about. >> they have been increasing, of course, ever since the huge cuts that had to take place. what is it going to be now, four years ago, right? >> that period, $6. >> yeah. >> march of '09. amazing, coming up on the four-year anniversary. >> do you ever worry about your paycheck? >> yeah. i think you worry about money you had in any bank account or anything. sure. ge was to cushifocused in the ff '08, that was the moment where it could all come to -- >> that was after the ge bailout. >> sorry, not to revisit the -- >> we have to remind people where we came from. tim geithner leaving, david faber is worried about his paycheck. >> speaking of paychecks, let's talk morgan stanley. wall street firm reporting fourth quarter earnings 45 earlier on squawk, james gorman said his firm is poised to improved market environment. whic
>> what it might have been had there not be crisis after crisis dealing with the debt ceiling. >> you said last night, you've got to put on a yogi bear costume to make sense of it. >> returning a lot to shareholders. >> one wonders. >> $12 million they're talking about. >> they have been increasing, of course, ever since the huge cuts that had to take place. what is it going to be now, four years ago, right? >> that period, $6. >> yeah. >>...
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Jan 14, 2013
01/13
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KGO
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. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. we are not a deadbeat nation. >> house republicans want spending cuts as part of a deal to lift the debt ceiling. without an agreement the country has until around march 1 before it may not be able to meet financial obligations. >> today is the one month anniversary of the deadly school shooting in newtown, connecticut. in washington, bay area members are among the group of democrats meeting with vice president biden about gun control. the vice president could turn over his proposals to president obama as early as tomorrow. >> a month ago today, the shooting massacre at sandy hook elementary school shocked the nation. and re-ignited a fierce battle over america's relationship with guns. tomorrow, vice president biden will recommend a robust gun control game plan to president obama including stronger background checks for all gun purchases, a ban on high capacity magazine clips, and a renewed ban on assault weapons. >> my starting poi
. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. we are not a deadbeat nation. >> house republicans want spending cuts as part of a deal to lift the debt ceiling. without an agreement the country has until around march 1 before it may not be able to meet financial obligations. >> today is the one month anniversary of the deadly school shooting in newtown, connecticut. in washington, bay area members are...
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Jan 13, 2013
01/13
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CSPAN
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i am calling about the debt ceiling. yes, it does need to be raised. because we have to pay our bills. if the government is allowed to borrow money and set their circumstances, then why is the private business sector not allowed to do that? the federal reserve has been shut down as far as to the bankers, as far as the this man being able to borrow money. the industry in the united states needs money to operate on and and. we need to be able to borrow money. if his mrs. are not allowed to expand and grow, how do they expect to pay the us -- these debts down the road? get these guys out of here. they do not need to be making a lifetime commitment. they have gotten old and senile and did not even know where they are. it is a shame that our government has gone this far. it is just terrible. host: thank you for the call. if you're just joining us, or listening on c-span radio, thank you for joining us. the question we are asking is whether or not you think the president can bypass congress to raise the debt ceiling. you can join the conversation by giving u
i am calling about the debt ceiling. yes, it does need to be raised. because we have to pay our bills. if the government is allowed to borrow money and set their circumstances, then why is the private business sector not allowed to do that? the federal reserve has been shut down as far as to the bankers, as far as the this man being able to borrow money. the industry in the united states needs money to operate on and and. we need to be able to borrow money. if his mrs. are not allowed to expand...
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Jan 19, 2013
01/13
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ceiling. the deal not all worked out just yet. but apparently it this will not require the spending cuts that house republicans had wanted. just released fox news poll finds that 69% favor raising the debt limit only if there are major spending cuts involved. and 23% say it's reckless not to raise it regardless. the poll also shows more than 8 in 10 think government spending is out of control. only 11% believes it's being managed carefully. mike immanuel tracking developments on the hill tonight. what's behind this house republican plan. >> bill, a lot of g.o.p. frustration has been based on the fact the senate has not passed a budget. so republicans are trying to force it house speaker john boehner told house members, quote: before there is any long-term debt alowe time for a budget to get done. >> he our hope is to pass something very early so the senate can take action as well. i wouldn't put any jeopardizing of the economy there. shows that it is a very rational, put us on a better path an
ceiling. the deal not all worked out just yet. but apparently it this will not require the spending cuts that house republicans had wanted. just released fox news poll finds that 69% favor raising the debt limit only if there are major spending cuts involved. and 23% say it's reckless not to raise it regardless. the poll also shows more than 8 in 10 think government spending is out of control. only 11% believes it's being managed carefully. mike immanuel tracking developments on the hill...
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Jan 18, 2013
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with these things, take the small one first, debt ceiling last, i think it's a rational, reasonable thing to do. >> now, for some, wolf, maybe even those in the republican house leadership, like him talking about what is rational and reasonable, that may be a bit jarring but the house republicans are coming out of their three-day retreat saying they have a better chance of reaching their goal of broad spending cuts. and that means not making the demand in the next few weeks, which is exactly what it would mean because, according to most economists, we will hit that debt ceiling mid-february. >> so here's the question, bottom line, is is this a sure thing? will congress actually vote to raise the debt limit next week? >> well, there is a catch. the house gop, the leadership at least says what they are going to try to pass next week would raise the debt ceiling for three months but with a condition. and that would be that the house and senate pass budgets. it may seem simple but house republicans like to point out that they haven't passed a budget in years. we already saw a carefully
with these things, take the small one first, debt ceiling last, i think it's a rational, reasonable thing to do. >> now, for some, wolf, maybe even those in the republican house leadership, like him talking about what is rational and reasonable, that may be a bit jarring but the house republicans are coming out of their three-day retreat saying they have a better chance of reaching their goal of broad spending cuts. and that means not making the demand in the next few weeks, which is...
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Jan 15, 2013
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understand that fitch is not just looking for an 11th hour debt ceiling deal that sets the table for another mini crisis down the road. the federal government hit the debt limit as you know on december 31st. the treasury is using so-called extraordinary measures to pay its bills through mid-february or early march. now, fitch predicts washington will extend the debt ceiling despite the current war of words between president obama and republicans in congress. what happens if we get downgraded? it happened before. remember 2011, when standard & poor's did it. that hit markets and the wider economy hard, but it didn't cause interest rates to increase. this time could be different, however, because the rest of the world is getting its act together. even successful businesses like ford are worried. here's what ceo alan mulally told me today. >> i think the most important thing to your point is that we come together around a solution that allows us to live within our means, to reduce our budget deficits, and also to deal with our trade deficits, and create an environment where the business
understand that fitch is not just looking for an 11th hour debt ceiling deal that sets the table for another mini crisis down the road. the federal government hit the debt limit as you know on december 31st. the treasury is using so-called extraordinary measures to pay its bills through mid-february or early march. now, fitch predicts washington will extend the debt ceiling despite the current war of words between president obama and republicans in congress. what happens if we get downgraded?...
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Jan 14, 2013
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. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. we are not a deadbeat nation. >> house republicans want spending cuts as part of a deal to lift the debt ceiling. without an agreement the country has until around march 1 before it may not be able to meet financial obligations. >> today is the one month anniversary of the deadly school shooting in newtown, connecticut. in washington, bay area members are among the group of democrats meeting with vice president biden about gun control. the vice president could turn over his proposals to president obama as early as tomorrow. >> a month ago today, the shooting massacre at sandy hook elementary school shocked the nation. and re-ignited a fierce battle over america's relationship with guns. tomorrow, vice president biden will recommend a robust gun control game plan to president obama including stronger background checks for all gun purchases, a ban on high capacity magazine clips, and a renewed ban on assault weapons. >> my starting poi
. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. we are not a deadbeat nation. >> house republicans want spending cuts as part of a deal to lift the debt ceiling. without an agreement the country has until around march 1 before it may not be able to meet financial obligations. >> today is the one month anniversary of the deadly school shooting in newtown, connecticut. in washington, bay area members are...
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Jan 14, 2013
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. >> the debt ceiling is still around. >> easily, though. >> the debt ceiling is still around. you are still dealing with that and, of course, the sequester issue. there are a lot of questions about what happens. we're speccing to run into that debt ceiling sometime between february 15th and march 1st. in the meantime, let's talk about corporate news. aig is suiciding maiden lane over lawsuit rights. it's the federal vehicle created during aig's bailout. at issue is whether the insurer transferred its rights to sue for losses that it incurred on its troubled bonds when it sold $2 billion in securities to the fed in 20308. aig is preserving its right to sue the federal government and other debts. >> fed chairman ben bernanke is going to speak and answer questions at the university of michigan. in d.c., president obama is said to be forging ahead on a wide ranging plan to overhaul the immigration plan this year. this includes a path to citizenship for illegal immigrants already in the country. immigrants would have to pay fines and back taxes. it would require businesses to veri
. >> the debt ceiling is still around. >> easily, though. >> the debt ceiling is still around. you are still dealing with that and, of course, the sequester issue. there are a lot of questions about what happens. we're speccing to run into that debt ceiling sometime between february 15th and march 1st. in the meantime, let's talk about corporate news. aig is suiciding maiden lane over lawsuit rights. it's the federal vehicle created during aig's bailout. at issue is whether...
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Jan 21, 2013
01/13
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with the debt ceiling. he broke the republicans's arms on that. >> still got the votes. >> sandy relief, who will disagree on that? >> a lot of of people. remember how chris christie was screaming? >> screaming at -- >> house republicans. >> right. >> what happens is up until now you had something called the hastert rule in the house. republicans stood together. that has been demolished in the last month. it's going to continue to be demolished when votes on immigration comes up and solving the sequestration money comes up and also on the budget. the real test for the president is whether he is going to go up against his own caucus to do things on medicare, social security and a few other issues. >> we are looking at the president on a motorcade going down pennsylvania avenue. every time i look at the inaugural route, i can't help but go back to january 20th, 1977 and jimmy carter breaking precedent and stepping out of the car and shaking hands with the american people. >> he walked the whole route. >> his
with the debt ceiling. he broke the republicans's arms on that. >> still got the votes. >> sandy relief, who will disagree on that? >> a lot of of people. remember how chris christie was screaming? >> screaming at -- >> house republicans. >> right. >> what happens is up until now you had something called the hastert rule in the house. republicans stood together. that has been demolished in the last month. it's going to continue to be demolished when...
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Jan 14, 2013
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we've got a debt ceiling issue that the president's going to have to deal with. there are a lot of other issues the president's going to have to deal with, immigration reform. i think the president's going to have to spend time on this whether he wants to or not. >> connie mack, nice to see you. >> nice to see you. >> please tell your lovely wife we're sorry she lost all her luggage and was stuck at the airport. >> love you, honey. >> we'll get back to john berman with a look at some of the other stories ahead this morning. >>> we'll be talking about the golden globes. ben affleck didn't get nominated for an oscar, but his surprise win at the globes may be vindication. we'll have that, the other surprises, and the big snubs in a live report. >>> he's known for his role on "breaking bad," but actor steven michael casada has a new role to play, local school board member. you should know that axiron is here. the only underarm treatment for low t. that's right, the one you apply to the underarm. axiron is not for use in women or anyone younger than 18. axiron can tra
we've got a debt ceiling issue that the president's going to have to deal with. there are a lot of other issues the president's going to have to deal with, immigration reform. i think the president's going to have to spend time on this whether he wants to or not. >> connie mack, nice to see you. >> nice to see you. >> please tell your lovely wife we're sorry she lost all her luggage and was stuck at the airport. >> love you, honey. >> we'll get back to john berman...
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Jan 14, 2013
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but i think at the end of the day, the deal made is a debt ceiling increase. but republicans will go through with those sequester cuts. >> yeah. if i could just come. jump in real quick. brian, bandy, jumping 06 of what jimmy had to say here, let's not forget, defaulting on the principle and interest obligation says separate conversation from defaulting on things to other people. say, sending out social security checks. in the context of quote unquote, defaulting on our debt, i'm with jimmy p. as well. missing an interest payment, a very low probability. >> that where some of the confusion seems to be, steve. exact lit public understanding. that why we are here at cnbc to what the risk really is. is someone not going to get their social security check? is the post office not going to be paid? what would happen first? >> brian, a lot of people don't understand because it is complicated. neither side of this depate want you to understand the reality here. on the one hand, the administration wants you to -- doesn't want you to know there are two options here. def
but i think at the end of the day, the deal made is a debt ceiling increase. but republicans will go through with those sequester cuts. >> yeah. if i could just come. jump in real quick. brian, bandy, jumping 06 of what jimmy had to say here, let's not forget, defaulting on the principle and interest obligation says separate conversation from defaulting on things to other people. say, sending out social security checks. in the context of quote unquote, defaulting on our debt, i'm with...
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Jan 16, 2013
01/13
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ceiling to deficit reduction deals. it serves as reminder how much the government has borrowed. senate minority leader mitch mcconnell writes, over the past three decades in fact u.s. presidents and lawmakers from both parties routinely used the debt limit debate to reform government spending. washington democrats under pressure from their favored interest groups continue to adhere to an outdated ideology that says every penny of revenue washington ever got its hands on is sacrosanct. house republicans are enroute to williamsburg, virginia for their retreat. they will consider the options for the upcoming debt ceiling fight. short term increase with modest spending cuts to a 4-year increase including overhaul of the tax code and entitlement programs. back to you. tracy: sound ambitious. rich edson, glad you could stick around and talk to us. we're 29 days away from the debt ceiling d-day. ashley: we are. tracy: will be valentine's day actually. ashley: not pretty though. as you just said, tracy, less than a month away f
ceiling to deficit reduction deals. it serves as reminder how much the government has borrowed. senate minority leader mitch mcconnell writes, over the past three decades in fact u.s. presidents and lawmakers from both parties routinely used the debt limit debate to reform government spending. washington democrats under pressure from their favored interest groups continue to adhere to an outdated ideology that says every penny of revenue washington ever got its hands on is sacrosanct. house...
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Jan 16, 2013
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so they ended up coming up with a deal. you get some sense from these interviews about the tough decisions and the factors that go into the decision making that has taken place over the last four years. >> peter baker, thanks very much, for coming on. we appreciate it. your piece is in this sunday's "new york times'" magazine. joe conason, stick around. that's your punishment, you have to stay here with donny and i. more trouble in the skies for boeing's dream larlinerdreamlin. business before the bell with cnbc's brian shactman. weight watchers online worked for us. we don't argue much. we really don't. meg usually just gets her way, and i go along with it. i think it worked for matt because i did it for him. when i'm the one cooking, i'm the one calculating the points. i can microwave things. you get to eat real food. we still get to go out. we're just so much smarter about it. we can keep each other in check. going, "okay, i see you." we've lost about 110 pounds together. it helped our love life. happy wife, happy life,
so they ended up coming up with a deal. you get some sense from these interviews about the tough decisions and the factors that go into the decision making that has taken place over the last four years. >> peter baker, thanks very much, for coming on. we appreciate it. your piece is in this sunday's "new york times'" magazine. joe conason, stick around. that's your punishment, you have to stay here with donny and i. more trouble in the skies for boeing's dream larlinerdreamlin....
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Jan 14, 2013
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president obama is warning that a political deadlock over the nation's debt ceiling could damage the u.s. economy and beyond. it's estimated without the deal the government could run out of money to pail its bills as early as mid-february. the president said the idea of refusing to raise the debt ceiling is irresponsible and absurd. >> republicans in congress have two choices here. they can act responsibly and pay america's bills are act irresponsibly and put america through another economic crisis. but they will not collect a ransom for not crashing the american economy. >> shep: they say they won't support raising the debt limit and there a battle line. the debt ceiling is the maximum amount of money that the united states can borrow. the law requires congress to control and authorize any money needed to pay for federal programs. debt ceiling was introduced way back in world war one. it was meant to give the treasury department more spending at that time. wendall goler, the president seemed that he was willing to call the republicans' bluff on this thing. >> he won't collect ransom
president obama is warning that a political deadlock over the nation's debt ceiling could damage the u.s. economy and beyond. it's estimated without the deal the government could run out of money to pail its bills as early as mid-february. the president said the idea of refusing to raise the debt ceiling is irresponsible and absurd. >> republicans in congress have two choices here. they can act responsibly and pay america's bills are act irresponsibly and put america through another...
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Jan 13, 2013
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trying to avert the debt ceiling debate by invoking the 14th amendment, cementing dosh minting the trillion dollar coin -- do you think those are viable options, would you be opposed to them being used? , i don't believe anyone should hold the -- >> i don't believe anyone should hold the american people ransom for what they could not get done in the ballot box. paying for our debts in the past -- for things we did, we borrowed money. republicans and democrats alike past these budgets -- passed these budgets. in our publicans are saying they don't want to pay for the things they voted for -- now republicans are saying they don't want to pay for things they voted for in past budget. to allow them to put conditions on the balance deal by saying we are going to ask for a ransom, devastating cuts to social security and medicare, in order to cover costs for things like the bush tax cuts, unpaid wars in iraq and afghanistan -- i agree with the president. the american people should not be held hostage with this game of using the debt ceiling as a way to try to extract what you could not get through
trying to avert the debt ceiling debate by invoking the 14th amendment, cementing dosh minting the trillion dollar coin -- do you think those are viable options, would you be opposed to them being used? , i don't believe anyone should hold the -- >> i don't believe anyone should hold the american people ransom for what they could not get done in the ballot box. paying for our debts in the past -- for things we did, we borrowed money. republicans and democrats alike past these budgets --...
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Jan 19, 2013
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with the debt ceiling? >> i hope it does not come to that but if it has to, it must. you know we can't let extremists put us in default and play chicken with a full faith and credit with the united states of america. that's what they are. when people say let's go into default. when i hear people who are elected to congress say let's go into default. i say this person is from some other planet. this person is not from this planet. the notion that we would do that boggles the mind and the good common sense of the vast majority of americans. >> what is your perspective on america's melting pot being better reflected in small towns? what would urban leaders learn from small town mayors? >> i mean -- i think we're enriched. i know i am. my kids have grown up. i tell people my kids have been in the homes of iranians, koreans, mexicans, italians, and greeks, muslims, we're enriched when we can experience other cultures and people and other perspectives. i think you're seeing the fastest growing places of immigrati
with the debt ceiling? >> i hope it does not come to that but if it has to, it must. you know we can't let extremists put us in default and play chicken with a full faith and credit with the united states of america. that's what they are. when people say let's go into default. when i hear people who are elected to congress say let's go into default. i say this person is from some other planet. this person is not from this planet. the notion that we would do that boggles the mind and the...
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Jan 17, 2013
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adam: before we get to the debt ceiling. california overestimated how much tax revenue they would get from the facebook ipo. the overestimated by $600 million. you can hear jerry brown doing a homer simpson. can you trust governments to get the numbers right? the fight over the debt ceiling is in full force. as democratdemocrats propose a o eliminate it completely and the ratings have come out with two scenarios in which it was downgraded the u.s. credit rating. not good news. some republicans are relishing the debt ceiling does indeed have to be raised. joining us now, ihs chief economist and we appreciate you being here. is this fight we are about to have necessary, and what is going to happen to whether it is the global market, 401(k), what will happen to all of us if congress passes this fight? >> this is not a necessary fight. this situation created by congress which sent the debt ceilinfrom years ago in hopes it would impose some discipline but of course it hasn't because it has been raised and raised and raised and no
adam: before we get to the debt ceiling. california overestimated how much tax revenue they would get from the facebook ipo. the overestimated by $600 million. you can hear jerry brown doing a homer simpson. can you trust governments to get the numbers right? the fight over the debt ceiling is in full force. as democratdemocrats propose a o eliminate it completely and the ratings have come out with two scenarios in which it was downgraded the u.s. credit rating. not good news. some republicans...
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Jan 20, 2013
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the tax cut deal, the big fights over the budget and the dealt ceiling and deficit -- the debt ceiling, deficit reduction, also the bin laden raid and what happened in egypt and libya. and so i'm looking at how obama made the decisions he made and took -- why he took the actions he took in that very pear rillous time -- perilous time for him politically. but i also explained how this is all done in a way to set up the 2012 campaign that we just went through. he had a theory, after he took that big hit in 2010, he had a theory that he could make the 2012 race a choice not just between him and mitt romney, but a choice between different ideologies, different approaches to government, between different sets of visions and values. and everything he did, um n that time frame he kept trying to tether to this big idea he had about a choice. and when i wrote
the tax cut deal, the big fights over the budget and the dealt ceiling and deficit -- the debt ceiling, deficit reduction, also the bin laden raid and what happened in egypt and libya. and so i'm looking at how obama made the decisions he made and took -- why he took the actions he took in that very pear rillous time -- perilous time for him politically. but i also explained how this is all done in a way to set up the 2012 campaign that we just went through. he had a theory, after he took that...
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Jan 14, 2013
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at the enof the day, there's a deal. >> yeah, this is like the debt ceiling is a phony argument. it's really about charter renewal. it's a renewal of a charter do continue spending, and what time and again the american people have been misled on the debt ceiling, what we are talking about you can't default. the government can't default on the debt or paying china and the like, what's bad is entitlement reform. you can. >> but he won't. >> that's not covered by the debt ceiling. >> the president loathes to cut spending of any kind. he wants more spending, in fact, and under no circumstances will he touch medicare, medicaid, social security. agree with that? >> surprised if he touchedded them if there's no real substantive cuts. the only way to cut the diset would be to hit those. i don't think he will. think about this. if simpson-bowles was enacted two years ago or now, if it had, ten years down the road, debt to gdp would be 65%. livable. in greece, it's 100 and change. the other european countries it approaches a hundred. if we do nothing including the new deal putting put toge
at the enof the day, there's a deal. >> yeah, this is like the debt ceiling is a phony argument. it's really about charter renewal. it's a renewal of a charter do continue spending, and what time and again the american people have been misled on the debt ceiling, what we are talking about you can't default. the government can't default on the debt or paying china and the like, what's bad is entitlement reform. you can. >> but he won't. >> that's not covered by the debt...
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Jan 15, 2013
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on the debt ceiling, even accusing republicans of an unfortunate metaphor, holding a gun at the head of the american people, as he put it. meanwhile, treasury secretary tim of the airline's the united states to default on payment as soon as mid february. for more of the president's is covered son joined by former reagan political director ed rollins, former pleasant to have clinton political adviser. let's start with the president's news conference today. the president seemed, well, you characterize it. he seemed to fill in the blank " >> i would say congeal. meaning that he tried to portray himself as reasonable and said that there was now negotiating and the debt ceiling, lesley because he is in a strong position politically in that the most would agree that the republicans are showing no signs of real life. lou: do you agree? >> i think the republicans rolled over and play dead. at this point in time they will draw a line in the sand. no believe they should shut government down, but i think this is a position where they need to make their case known. the president said over and ov
on the debt ceiling, even accusing republicans of an unfortunate metaphor, holding a gun at the head of the american people, as he put it. meanwhile, treasury secretary tim of the airline's the united states to default on payment as soon as mid february. for more of the president's is covered son joined by former reagan political director ed rollins, former pleasant to have clinton political adviser. let's start with the president's news conference today. the president seemed, well, you...
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Jan 16, 2013
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we want to make certain, especially dealing with this debt ceiling, we do it in a fiscally responsible manner. >> would you be willing given your point of view overall in borrowing money that if kansas pays in a dollar, gets $1 back so 12 cents of every dollar, assume for a moment that number is right, this is the tax foundation number, that you would give that back, kansas would get a whole lot less from the federal government right now, would you sign on to that? >> well, i don't agree with those numbers. we got a whole tax code that actually helps states like new york that have higher taxes because they can take that off their federal income taxes. that has to be part of that as well. but i think we need to do -- certainly helping those in need is probably something we should be doing but if you're not going to spend 80% of the dollars for two years, what's the rush? let's get to the direct needs right now and that's what i think's important. that's why i offered transparency amendment that said let's go see where this money is going. that went on there. i think that's important. fe
we want to make certain, especially dealing with this debt ceiling, we do it in a fiscally responsible manner. >> would you be willing given your point of view overall in borrowing money that if kansas pays in a dollar, gets $1 back so 12 cents of every dollar, assume for a moment that number is right, this is the tax foundation number, that you would give that back, kansas would get a whole lot less from the federal government right now, would you sign on to that? >> well, i don't...
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. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. and we are not a deadbeat nation. >> reporter: without a deal, the government could run out of money to pay its bills by late february or early march. but republican leaders are demanding significant spending cuts in exchange for any agreement to raise the debt ceiling. in a statement, senate minority leader mitch mcconnell says the debted limit is the time to get on reducing spending. gun control is also an issue. >> responsible gun owners, people who have a gun for protection, for hunting, for sportsmanship, uhm, they don't have anything to worry about. >> reporter: the national rifle association has already made clear, it has enough support in congress to block legislation that restricts gun ownership. >> i would say that the likelihood is that they are not going to be able to get an assault weapons ban through this congress. >> reporter: moderate lawmakers say there is a better chance of passing laws that limit the number of bull
. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. and we are not a deadbeat nation. >> reporter: without a deal, the government could run out of money to pay its bills by late february or early march. but republican leaders are demanding significant spending cuts in exchange for any agreement to raise the debt ceiling. in a statement, senate minority leader mitch mcconnell says the debted limit is the time to get...
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Jan 15, 2013
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but this is going to be a tougher vote for republicans on the debt ceiling. will he get 25 or 30. >> john: alex we have 20 second left. let me ask you some republicans are talking about another government shutdown. do they not remember howed about that came across in 2011 not to say what newt gringrich did? are they getting desperate. >> well look some of these republicans want to send the white house a message, the message is they're serious about doing this. they'll tell you that their constituents want them to send a strong message to the white house. if they don't they could risk a primary in their own strict come next year. it makes the most season to potentially force a government shutdown. >> john: good guys. michael tomasky and isaac and alex [ voice of dennis ] ...safe driving bonus check? every six months without an accident, allstate sends a check. ok. [ voice of dennis ] silence. are you in good hands? rr >> john: it's awards season and here now the quickest award show in the world. tonight's category, the most discredited talking point. and the n
but this is going to be a tougher vote for republicans on the debt ceiling. will he get 25 or 30. >> john: alex we have 20 second left. let me ask you some republicans are talking about another government shutdown. do they not remember howed about that came across in 2011 not to say what newt gringrich did? are they getting desperate. >> well look some of these republicans want to send the white house a message, the message is they're serious about doing this. they'll tell you that...
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Jan 19, 2013
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expressed concern about how much of the chill news were addressed in the deal. it went part way, but it leaves a number of issues still on the table and negotiations are looming. would you characterize that as an additional cliff that is facing us? or is it not as concerned as it was when you raised that term initially? >> as i said, the fiscal kloof, if allowed -- the fiscal clef, if allowed to take place, would probably create a recession this year. a good part of that has been addressed. but nevertheless, we have a set of a restrictive fiscal policies now. federal fiscal policy will subtract from real gdp growth something on the order of one% to 1.5% this year. it is quite a drag on the economy. there is more work to do. let me be clear about that. it will be a long haul. it will not happen overnight. basically because the government budget represents the values and priorities of the public and decisions being made about what to spend on, what to tax and so on are difficult and contentious decisions and will take some time to address. >> those issues, of cour
expressed concern about how much of the chill news were addressed in the deal. it went part way, but it leaves a number of issues still on the table and negotiations are looming. would you characterize that as an additional cliff that is facing us? or is it not as concerned as it was when you raised that term initially? >> as i said, the fiscal kloof, if allowed -- the fiscal clef, if allowed to take place, would probably create a recession this year. a good part of that has been...